UAE ranked fifth most competitive economy in the world

Wednesday, 29 May 2019 09:29

The UAE has jumped two spots to fifth in the world competitiveness rankings compiled by the Swiss business school IMD.

Government and business efficiency, as well as technological and scientific infrastructure, are some of the key factors behind the country’s improved performance.

Jose Caballero, Senior Economist at the World Competitiveness Council in Switzerland, shared the details with ARN News.

The rankings, which started in 1989, assess 63 economies on 235 indicators.

Globally, Singapore leapfrogged Hong Kong and the US to take the top spot.

More from Business

ADNOC Distribution reports $579 million net profit in first 9 months

ADNOC Distribution has reported a net profit growing by 15.6 per cent year-on-year to $579 million in the first nine months, with an EBITDA increase of 12 per cent to $885 million, its strongest performance since listing in 2017.
TECOM Group’s 9-month shows 20% revenue growth

TECOM Group has announced a 20 per cent revenue growth reaching more than AED 2.1 billion, with a net profit exceeding AED 1.1 billion, marking an 18 per cent year-on-year increase.
DFM reports 212% increase in net profit before tax to AED930.8 million

The Dubai Financial Market (DFM) has announced its consolidated financial results for the nine months ending September 30, reporting a net profit before tax of AED 930.8 million, an increase of 212 per cent compared to the same period in 2024.
DMCC unveils plans for new financial centre

DMCC — Dubai’s leading international business district — has announced plans to create a new Financial Centre that will anchor trade finance, fintech innovation and digital asset solutions across its 26,000-member community.
UAE cuts key interest rate by 25 basis points

The Central Bank of the UAE (CBUAE) has decided to cut the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points, from 4.15 per cent to 3.90 per cent, effective from Thursday, October 30.

News

UAE launches aid mission for hurricane-hit Caribbean nations
The UAE has launched an urgent humanitarian mission to assist communities affected by Hurricane Melissa, which devastated parts of Jamaica, Haiti and Cuba.
New paid parking zones introduced in Dubai
Dubai’s public parking operator Parkin has announced the introduction of new paid parking zones in two key areas of the city.
H.H. Sheikh Khaled holds talks with South Korean President
His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, looked at ways to advance cooperation with South Korea in key sectors during talks with President Lee Jae-myung in Gyeongju.

UAE ranked fifth most competitive economy in the world

More from Business

News

Our Shows

Quick Links

Listen on the Go

UAE ranked fifth most competitive economy in the world

Share

More from Business

News

Our Shows

Quick Links

Listen on the Go